Metalex Ventures Ltd V.MTX

Alternate Symbol(s): MXTLF

Metals & Mining Industrial Metals & Minerals

Metalex Ventures Ltd. is a Canada-based company engaged in the acquisition, exploration and development of mineral properties. The Company’s principal projects are located in Quebec and northern Ontario (U2), Canada. Its overseas projects are located in South Africa, Morocco and Mali. Its projects include Wemindji James Bay Property, Kyle Lake Property, Viljoenshof Diamond Project and James Bay Lowlands Property. It has a 100% earned interest in mineral claims located in the Kyle Lake area of Ontario, located approximately 200 kilometers (km) west of James Bay in Northern Ontario and about 80 km west of De Beers’ Victor Mine. It also has an interest in various mineral claims located in the Wemindji James Bay region of Quebec for the exploration of diamonds and owns 100% of the non-diamond project. It also has a 100% interest in certain mineral claims in the James Bay Lowlands area of Northern Ontario. It has a 70% interest in the Viljoenshof Diamond Project in South Africa.

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Metalex Ventures Ltd > Shares for Debt

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Post by Oregonduckon May 10, 2021 7:08pm

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Post# 33170593

Shares for Debt

Dump, Dump, Dump

The two directors had received hundreds of thousands in shares over the years for “services rendered” . As of the last Annual Meeting a few months ago, they declared they owned minimal shares. DSU’s will only be issued when they are “going out feet first” or “butt first”. The outstanding
Options have average weighted cost of 8 cents.

Under Sedi regulatory filing, there is no requirement to file any report because of the key exception. It doesn’t take Sherlock Holmes to say that it is elementary that they had dumped their free shares given to them over the years.

Insider Report for Shares for Debt Transactions

Filing Process for Shares for Debt Transactions

You report an acquisition of shares in compensation for debt in the same manner as you would other acquisitions of common shares with the following exceptions.

Key Exceptions:

Nature of transaction: Compensation for property - code 45 or Compensation for services - code 46, depending on the underlying transaction giving rise to the debt

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